Residential Market Shows Renewed Activity

Hong Kong’s residential market recorded a stronger performance in April, with total residential sales transactions rising to 7,368 units, up 1,052 units month-on-month. Secondary market transactions accounted for 4,774 units, while primary sales reached 2,594 units.

Mass residential capital values also improved, rising 1.5% month-on-month. In the primary market, One Victoria Cove in Hung Hom sold all 218 units launched in its first sales batch, with prices ranging from HKD 17,365 to HKD 21,158 per sq ft. Around 30% of buyers were estimated to have purchased for investment purposes.

Developer confidence also remained visible. The Kam Sheung Road Station Phase Two development was awarded to a consortium including Sino Land, China Overseas, Great Eagle and China Merchants, with planned investment exceeding HKD 13 billion. 

Office Market Sees Early Recovery Signs

Hong Kong’s office leasing market also showed improvement, recording positive net absorption of 8,000 sq ft in April. Central continued to lead demand, with average monthly net absorption exceeding 100,000 sq ft during the first four months of 2026.

The overall office vacancy rate remained stable at 13.5%, while Central vacancy declined to 9.2%. Office rents rose 1.2% month-on-month, supported by a 2.1% increase in Central and early recovery in Wanchai and Causeway Bay.

Outlook

Hong Kong’s property market is showing a more positive tone, supported by stronger residential sales, selective investment demand and improving office leasing activity.

Momentum is still likely to vary by segment, but prime locations, well-priced new launches and core office districts may continue to attract stronger buyer and tenant interest.